Real Estate Glossary

What is Estimated Tax Savings?

When purchasing a property, the buyers may be eligible for certain tax deductions and credits, such as the mortgage interest tax deduction. The estimated tax savings is an estimate of the amount of money that a buyer can expect to save on their taxes as a result of buying the property. This estimate can be based on the buyer's projected mortgage interest payments, and any other deductions or credits that they may be eligible for. Knowing the estimated tax savings can help buyers understand the true net cost of the purchase, and make an informed decision about whether or not to proceed with the transaction.

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